Mastercard (MA) Operating Expenses (2009 - 2026)
Mastercard's (MA) quarterly Operating Expenses came in at $3.7 billion in Q2 2026, up 9.95% YoY from $3.4 billion in Q2 2025, and up 5.7% on a QoQ basis from $3.5 billion in Q1 2026.
Mastercard (MA) Operating Expenses (2009 - 2026) Analysis & Trends
Mastercard (MA) has 18 years of Operating Expenses data on file, last reported at $3.7 billion in Q2 2026.
- Quarterly Operating Expenses rose 9.95% year-over-year to $3.7 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $14.6 billion (up 9.31% YoY) and the FY2025 annual result came in at $13.9 billion, up 10.4% from the prior year.
- Operating Expenses advanced to $3.7 billion in Q2 2026, from $3.5 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $3.9 billion in Q4 2025 to a low of $2.2 billion in Q1 2022.
- A 5-year average of $3.0 billion and a median of $3.0 billion in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses advanced 1.7% — and 2024, when it increased 25.14%.
- Tracing MA's Operating Expenses over 5 years: stood at $2.6 billion in 2022, then gained by 20.62% to $3.2 billion in 2023, then increased by 11.81% to $3.6 billion in 2024, then gained by 9.72% to $3.9 billion in 2025, then retreated by 5.29% to $3.7 billion in 2026.
- The last three Operating Expenses figures came in at $3.7 billion (Q2 2026), $3.5 billion (Q1 2026), and $3.9 billion (Q4 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 618.21 Bn | 605.85 Bn | - | 4.76 Bn |
| 2 | Mastercard | 506.53 Bn | 493.04 Bn | - | 3.69 Bn |
| 3 | American Express | 232.32 Bn | 183.00 Bn | 17.99 Bn | 14.48 Bn |
| 4 | Capital One Financial | 136.19 Bn | 81.48 Bn | - | 9.04 Bn |
| 5 | PayPal Holdings | 52.34 Bn | 41.08 Bn | - | 7.26 Bn |
| 6 | Eason Technology | 35.89 Bn | 35.89 Bn | - | - |
| 7 | Synchrony Financial | 26.09 Bn | 9.90 Bn | - | 1.33 Bn |
| 8 | Affirm Holdings | 25.93 Bn | 24.20 Bn | - | 950.34 Mn |
| 9 | SoFi Technologies | 23.04 Bn | 22.68 Bn | -41.62 Mn | 891.92 Mn |
| 10 | Ally Financial | 13.61 Bn | 5.77 Bn | 2.08 Bn | 1.32 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 3.69 Bn |
| Mar 31, 2026 | 3.49 Bn |
| Dec 31, 2025 | 3.90 Bn |
| Sep 30, 2025 | 3.54 Bn |
| Jun 30, 2025 | 3.36 Bn |
| Mar 31, 2025 | 3.10 Bn |
| Dec 31, 2024 | 3.55 Bn |
| Sep 30, 2024 | 3.37 Bn |
| Jun 30, 2024 | 2.93 Bn |
| Mar 31, 2024 | 2.74 Bn |
| Dec 31, 2023 | 3.18 Bn |
| Sep 30, 2023 | 2.69 Bn |
| Jun 30, 2023 | 2.61 Bn |
| Mar 31, 2023 | 2.61 Bn |
| Dec 31, 2022 | 2.63 Bn |
| Sep 30, 2022 | 2.64 Bn |
| Jun 30, 2022 | 2.48 Bn |
| Mar 31, 2022 | 2.22 Bn |
| Dec 31, 2021 | 2.39 Bn |
| Sep 30, 2021 | 2.27 Bn |